Carnival Reports 30 Percent Drop in Third-Quarter Profits
In this Monday, March 15, 2010 file photo released by the Cruise Shipping Miami conference, five cruise ships are lined up at the Port of Miami. Andy Newman / Cruise Shipping Miami
Carnival just launched one of its largest fourth-quarter marketing campaigns in an effort to boost pricing power by the second half of 2014. The cruise operator is focusing on Asia as the brand slowly rebounds in Europe and the U.S.
Carnival Corp, the world’s largest cruise operator, reported a 30 percent fall in third-quarter profit, hurt by a series of mishaps on its cruise liners this spring.
Carnival’s shares fell 4 percent in premarket trade.
The company, which operates the Carnival, Holland America and Costa cruiselines, reported net income of $934 million, or $1.20 per share, for the quarter ended Aug. 31, down from $1.33 billion, or $1.71 per share, a year earlier.
Revenue rose marginally to $4.72 billion.
Net revenue yields, which blend ticket sales and money spent onboard, fell 3.8 percent on a constant currency basis.
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